TMT president Mitsuhiro Sonoda has told the Bangkok Post that exports are going down in most markets because of the worldwide recession.
“That has prompted us to cut volume planned for next year,” he said.
The report said that domestic passenger car sales are likely to improve because of the sharp decline in global oil prices the past four months. Meanwhile, sales of one-ton pickup trucks will depend largely on Thailand’s economic situation next year, the report added.
Adisak Rohitasune, senior vice-president of Asian Honda Motor , agreed production and exports would decline next year from the industry’s 2008 total of 1.45 million units, with 800,000 for export.
Honda is facing declining orders from Australia, a major market along with Asia and the Middle East. Shipments to Asia are now expected to slow, he said.
“Fortunately, Thai-made vehicles are not reliant on the US market. Consequently, the impact from this crisis will not be as significant as the 1997 crash.”